Development plan change for Gangwon Free Economic Zone’s Mangsang District 1 passes; project gears up for 2028 groundbreaking

【Financial News, Donghae = Reporter Kim Ki-seop】After failing to break ground even once in the 13 years since its designation, Mangsang District 1 in the Gangwon Free Economic Zone has cleared a government review hurdle with a development plan for a mixed-use city combining international education with tourism and leisure, laying the groundwork for construction to begin in 2028.
According to the Gangwon Free Economic Zone Authority on the 19th, the proposed change to the development plan for Mangsang District 1 in the Gangwon Free Economic Zone passed review by the Free Economic Zone Committee under the Ministry of Trade, Industry and Energy, which met that day. Designated as a free economic zone in 2013, Mangsang District 1 had seen development stagnate for years. Work on revising the development plan gathered pace after Daemyung Construction was named the replacement project operator in July 2024.
The proposed changes reflect evolving project conditions and demand, including adjustments to the project area, a more rational land-use plan and an extended project period. The plan also calls for substantially strengthening the international education and tourism and leisure functions to create a self-sufficient mixed-use city that brings together housing, education, tourism and leisure.
In particular, the plan aims to broaden the foundation for attracting domestic and international investment by linking international education with the tourism industry, including high-end accommodations and leisure facilities. The authority also expects the project to help revitalize the local economy by improving living conditions and creating jobs.
The next steps have also taken shape. The authority plans to secure approval and notification from the Ministry of Trade, Industry and Energy within this year, then complete administrative procedures—including consultations on disaster, environmental and traffic impact assessments—in the first half of next year and obtain approval for the implementation plan by July. It aims to begin construction in the first half of 2028, while carrying out land compensation and detailed design work in parallel.
Gangwon Free Economic Zone Authority Commissioner Kim Yang-ho said, “Mangsang District 1, which had been stalled since its designation in 2013, is preparing to get back on track after finalizing a new development plan a little over two years after a replacement project operator was appointed. We will work closely with the project operator and relevant agencies to keep the schedule on track through approval of the implementation plan next July and the start of construction in the first half of 2028. We will make a smart mixed-use city that combines international education and leisure with the natural environment of the East Sea coast a reality, and ensure it yields tangible results in the form of investment and jobs.”

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